Solar Panel Cost Guide in Cherry Hill, VA (2023 Update)
- Cherry Hill Solar Installation Cost: $15,354
- 25-Year Savings: $21,447
- Payback Period: 10.4 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated September 15, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Cherry Hill
Find out what the average cost of solar panels are in Cherry Hill.
The national average cost of solar panels is $2.66 per watt, but in Cherry Hill it's 2.75 per watt. Using this figure, a typical 8.0-kW system would cost about $15,361 before the 30% federal solar tax credit is applied.
The true price you pay can go above or below the average in Cherry Hill depending on several factors, such as the brand of solar panels you choose and the solar contractor you hire. But, after you've paid the initial cost of installation, the payback for most homeowners is quite rewarding, with a net average savings of about $18,000 over 20 years on electricity bills.
To see your potential savings and connect with a local solar company, click the button below.
Solar savings over time in Cherry Hill
| Year | Return on Investment |
|---|---|
| 1 years | $-15,231 |
| 3 years | $-14,986 |
| 5 years | $-14,740 |
| 7 years | $-14,495 |
| 9 years | $-14,250 |
| 11 years | $-14,004 |
| 13 years | $-13,759 |
| 15 years | $-13,514 |
| 17 years | $-13,268 |
| 19 years | $-13,023 |
| 21 years | $-12,778 |
| 23 years | $-12,532 |
| 25 years | $-12,287 |
Top Solar Installers in Cherry Hill
When making the switch to solar, many homeowners decide to use a solar installer since DIY solar panel installation can be a difficult project. Companies can also provide access to quality options of the best solar panels and help you decide which one will be right for your home.
There are several licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
See all of the solar companies in Cherry Hill
Factors that Affect Solar Panel Costs in Cherry Hill
There are many criteria that can determine your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
When it comes to estimating the price of a solar system in Cherry Hill, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy consumption, which you can determine by looking at past electricity bills. Your total cost can increase by around $2,750 for each additional kilowatt you need. The brand and type of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Most solar installers in Cherry Hill have solar loans, which reduce the initial cost of installing solar panels. However, the interest on solar loans also increases your all-in costs, so it's vital to consider that as well. You can always lower the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
A final consideration when trying to figure out the cost of solar for your home or business in Cherry Hill is the company you choose to install your PV system. As with choosing a company to install new cabinets, for example, there's no shortage of solar installers that provide a range of services at different price points. Additionally, some companies in Cherry Hill have more knowledge about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could help you save more money in the long run.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.86 | $12,012 | $15,671 | 10.8 years |
| 8 kW | $2.81 | $15,708 | $21,203 | 10.6 years |
| 10 kW | $2.75 | $19,250 | $26,889 | 10.4 years |
| 12 kW | $2.69 | $22,638 | $32,728 | 10.2 years |
| 14 kW | $2.64 | $25,872 | $38,722 | 10.0 years |
| 16 kW | $2.58 | $28,952 | $44,870 | 9.8 years |
| 18 kW | $2.53 | $31,878 | $51,172 | 9.6 years |
| 20 kW | $2.48 | $34,650 | $57,627 | 9.4 years |
How to Save on Solar Panels
The solar panel company you go with will impact not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should keep in mind, including:
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and how much efficiency they need. While there are many options for which type of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you peruse their list of options before deciding.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to get the job done well. Another way you can check your installer's reputation is by reading reviews.
- Contract: Although reading through a contract can take a lot of time, it's important to do it carefully so you can be sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Warranty: Warranties that cover defective panels and repairs over a long period of time such as 25 years are the best you can get in the business, and offering such a warranty is one sign of a good company.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Cherry Hill, VA Solar Cost FAQs
What is the average cost of installing solar panels in Cherry Hill?
The average cost of solar panels in Cherry Hill is about $13,750 for a 5-kW system and $27,500 for a 10-kW system before the ITC, but the actual cost will depend on things like the type of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider in addition to cost when buying solar panels?
Cost is a crucial factor to consider, but whether it's the most important for you depends on your goals for going solar. In places where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to consider are the quality and durability of your solar panels.
Is it worth going solar in Cherry Hill?
Whether or not solar panels are worth it depends on a variety of factors like local electricity rates and the amount of direct sunlight your roof gets.
How many solar panels do I need to power my home?
To figure out what solar panel system size you need, you should find out how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average house will need 20 to 35 panels.
Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.
Company research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.